subject
Business, 01.10.2019 03:10 KallMeh

National art is a new business. during its first year of operations, credit sales were $40,000 and collections were credit sales of $31,000. one account, $525 was written off. management uses the percent-of-sales method to account for bad debts expense and estimates 2% of credit sales to be uncollectible. the ending balance of allowance for bad debts account is do not round until the final answer. then round to the nearest whole dollar.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 11:30
Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)
Answers: 2
question
Business, 23.06.2019 00:10
Wang distributors has an annual demand for an airport metal detector of 1 comma 350 units. the cost of a typical detector to wang is $400. carrying cost is estimated to be 19% of the unit cost, and the ordering cost is $24 per order. if ping wang, the owner, orders in quantities of 300 or more, he can get a 10% discount on the cost of the detectors. should wang take the quantity discount? \
Answers: 1
question
Business, 23.06.2019 01:50
The capital balances, prior to the liquidation of the benjamin, gaynor, megan partnership, were as follows: benjamin, capital $100,000gaynor, capital $120,000megan, capital $175,000benjamin, gaynor, and megan share profits and losses in the ratio of 25%, 40%, 35%. as a result of a loan, the partnership owes gaynor $80,000. using the information above, which partner has the highest loss absorption power (lap) prior to liquidation? a. gaynorb. meganc. benjamind. both gaynor and megan have the same lap
Answers: 2
question
Business, 23.06.2019 04:20
Question 1 2 points is the concern of business for the long-range welfare of both the company and its relationships to the society within which it operates
Answers: 1
You know the right answer?
National art is a new business. during its first year of operations, credit sales were $40,000 and c...
Questions
question
Mathematics, 22.10.2020 23:01
question
Mathematics, 22.10.2020 23:01
question
English, 22.10.2020 23:01
question
Mathematics, 22.10.2020 23:01
question
Mathematics, 22.10.2020 23:01
Questions on the website: 13722360